From time to time, we are asked how our clients can be involved in assisting their college-age children, and have access to information from the college or university. Once your child turns 18, he or she is no longer considered a minor. As a result, you no longer have the legal right to make certain […]
At Silverman Law Offices we believe that estate planning is about more than avoiding taxes and probate. Yes, there are the documents that need to be created: powers of attorney, trusts and wills. More than that, we create customized plans—we do not use “cookie cutter” documents from a template—we prefer to meet your individual needs.
Here you can find our individualized advice on situations in which our clients have found themselves. Here you can find our discussions on state taxes, powers of attorney, life care planning, and even more pleasurable topics like how to title a vacation home.
In a trust-based estate plan, you appoint successor trustees. The trustee is involved in just about every aspect of the trust administration, from taking care of you and your trust if you are incapacitated (“disability trustee”) to administering your trust upon death (“death trustee”). The successor trustee role carries great responsibility. Most people choose someone […]
We recently discussed how the failure to create even a most basic estate plan can lead to unintentional and disastrous results. In our example, the decedent, who lived with his partner for over 25 years, failed to create a will to bequeath his house to her. In another example, with positive results, the decedent’s handwritten […]
Prospective clients often ask advice in designing an inheritance plan for their children to inherit assets. Typical concerns are the children’s ages, maturity level, divorce risk, and the size of the potential inheritance. Here are three important factors to consider in designing an inheritance: 1. Should all children be treated the same? Parents overwhelmingly want […]
Silverman Law Offices offers several business planning services. But we also want to make sure you understand what some of those services include and why you might need them. This article will explain the fundamentals of probate, which is something you can easily avoid by having a trusted professional set up the documents required so […]
As we’re settling in to the New Year with our New Year’s resolutions already either forgotten or (hopefully) regularly scheduled and being followed, I have a challenge for all of my readers: no matter your level of wealth or marital status, you should have in place at least the basics of an estate plan, thereby […]
What Is Estate Planning? Estate planning is ensuring your surviving spouse or significant other, as well as your children, receive what you want them to when you die. Most clients never think about the possibility of “unintentional disinheritance” when they do their estate planning, though. Perhaps they’re not aware of this real danger. Also, many […]
Many people are confused by the difference between Medicare and Medicaid. Here is everything you need to know to figure out which one is best suited for your needs. Medicare basics Medicare is a health insurance program that’s sponsored by the federal government and was founded in 1965. It covers people who meet any one […]
We spend quite a bit of time counseling our trust clients on the importance of “funding” their trusts. Funding is the process of retitling assets into the name of the trust or coordinating pay on death accounts. Funding is particularly important for clients who own out-of-state real estate. Sometimes our clients simply forget that they […]
Many of our clients choose a living trust-based estate plan in order to avoid probate. Probate is avoided when assets are titled in the name of a living trust, and not in the trust maker’s names personally. The trust is administered privately by the successor trustees. Once a living trust is created, we go through […]